Work Session/Regular Meeting September 25, 2018
Items to be Discussed Permanent Improvement Funds Capital Outlay Expenditures General Fund Capital Outlay Expenditures All Other Funds Purchased Services General and Emergency Funds Revenues Land Debt Update
Permanent Improvement Expenditures District has 2 permanent improvement funds Fund 003-0000 Outside Permanent Improvement Levy Fund (Renewed in May 2017) Fund 003-9000 Inside Permanent Improvement Levy Fund (non-voted) District is projected to receive $253,720 in taxes and homestead and rollback for each permanent improvement fund for Fiscal Year 2019 Projected Total Expenditures for Fiscal Year 2019 are as followed Fund 003-0000 Outside Permanent Improvement Levy - $280,834 Fund 003-9000 Inside Permanent Improvement Levy - $287,160 Based on budget amounts, the projected ending fund balance as of 6/30/2019 is as followed: Fund 003-0000 Outside Permanent Improvement Levy Fund - $64,020 Fund 003-9000 Inside Permanent Improvement Levy Fund - $144,855
Outside Permanent Improvement Expenditures Appropriation Auditor Treasurer Fees $ 3,775.00 Renovation Project 200,000.00 Land Debt Principal Payment 33,000.00 Land Debt Interest Payment 32,635.00 Land Debt Admin Fees 720.00 Elementary Equipment 704.35 Site Improvements 10,000.00 $ 280,834.35 Auditor Treasurer Fees related to fees charged for County Auditor in collecting of real estate taxes Renovation Project related to the multi-purpose renovation project Land related to land purchase by district and corresponding payment Important items to note This Levy would need to be renewed by December 31, 2022 to continuing receiving the tax dollars. Based on land discussion we could see additional cost be included. Potential additional renovation projects depending on direction District plans to take with facilities
Inside Permanent Improvement Expenditures Appropriation Auditor Treasurer Fees $ 3,775.00 Copier Lease 43,000.00 Security Serv Equipment 8,300.00 Lease Purchase - Bus 84,130.00 Transportation Equipment 6,020.00 School Buses 135,870.00 Site Improvements 6,065.00 $ 287,160.00 Auditor Treasurer Fees related to fees charged for County Auditor in collecting of real estate taxes Security Service Equipment related to additional cameras for interior and exterior of building Lease Purchase Bus last payment for current lease-purchase agreement. Site Improvements repair of Dugouts at Softball field Important items to note Increases to Transportation Equipment are expected as we anticipate to replace cameras on buses and additional radios as we still have radios that are antenna and in 2020 all radios will have to be digital. Discussion about future bus purchases will need to be discussed. Based on land discussion we could see additional cost be included.
Other Capital Outlay Expenditures General Fund Appropriations Actual as of 9/19/18 Chromebooks, Laptops for New Teachers $ 85,481 $ 75,862 Classroom Furniture $ 90,554 $ 38,740 Special Ed Furniture $ 5,476 $ 5,476 Improvements for Buildings $ 14,406 $ 8,406 Building Equipment $ 2,500 $ 1,267 School Bus Equipment/Repairs $ 18,500 $ 8,998 School Bus $ 22,250 $ 14,545 Equipment $ 25,615 $ 264,782 $ 153,294 Classroom Furniture Purchased furniture for students and staff for 3 classrooms. Also will be purchasing furniture related to Renovation Project. School Bus amount represent that was available from prior fiscal years that was set aside to purchase buses Equipment represents equipment for operations and/or staff for building
Capital Outlay All other Funds Appropriations Actual as of 9/19/18 Building Fund $ 22,693 $ 7,693 Athletics $ 41,379 $ 23,567 Building Fund Paid outstanding invoice related to HS Building Project. Also anticipate furniture for high school class in High School Building Athletic Fund Uniforms (Volleyball and Football), Volleyball equipment, Helmet/Shoulder Pads recondition, Golf Bags for Girls Golf
Purchased Services FY19 General/Emergency Fund Appropriation Prof and Tech Svcs $ 2,405,770 Property Services $ 650,868 Travel and Meeting Expenses $ 41,047 Communications $ 21,800 Utilities Services $ 330,700 Tuition and Other Payments $ 585,000 Pupil Transportation/Other $ 53,878 Total Purchased Services $ 4,089,063 Purchased Services projected expenditures for FY 19 are anticipated to increase by 13% compared to actual increases in FY 18 of 10% and in FY 17 of 18%. As student enrollment goes up, purchased services will rise as well. Professional and Tech Services Major expenses are for Miami and Montgomery County ESC, META Solutions (software), Powerschool, Legal Fees Property Services Major Expenses are for Custodial Contract, Repairs for Buses, Building Insurance, Building Repairs Travel and Meeting Expenses staff to attend training/conferences which include Hotel, Mileage, Registration, Meals Communications Postage, Advertising for bids, telephone Utilities Services Propane, Electricity, Water Tuition and Other Payments deductions from our foundation receipts like Peterson Scholarship, open enrollment, college credit plus, community school Pupil Transportation/Other Payments in lieu of Transportation, Transportation from Mad River Schools and Troy Christian School
General Fund and Emergency Fund Revenues Major Revenues sources are Real Estate Taxes, Income Tax, Foundation Receipts and TIF Real Estate Taxes Estimated to receive $3,195,504; currently have received $1,412,748 or 44% of current total projection Income Tax Estimated to receive $1,627,273; currently have received $484,562 or 30% of current total projection Foundation Receipts Estimated to receive $4,668,679; currently have received $976,029 or 21% of current total projection TIF Receipts Estimated to received $1,700,000; currently have received $707,341 or 42% of current total projection
Land Debt - Update As of Today the District currently owes the following: Principal Amount - $654,000 Interest - $262,880 Admin Fees - $5,933 Total Amount - $922,813 Agreement allows for early pay off, however, there is a penalty for paying off remaining. If District would pay off outstanding amount it would be as followed: Principal Amount -$654,000 Penalty Early Pay off est. $80,700 Accrued Interest est. $13,938 Total Amount - $748,638 The two options the District has is to stay put and pay as scheduled or pay off debt. No financing options available. District currently has $660,336 in capital projects fund from allocated TIF Money that could be used in paying off debt. The remaining amount could come from permanent improvement. Another item to consider is what would the District do with land if paid off?